Failed twice

[Q1989]

@Greenman72

I’d say go for December. The material is fresh on your mind, and you can just keep going like you never stopped.

The real problems will be - if you pass in December, do you go for L2 in June 2015, or wait until 2016?

And if you fail L1 a third time, I’d advise you to stop throwing your money away.

Thanks for your replay. But I am not thinking of taking L2 now! as I said before am taking level one because my job ask me to do that. Also regarding the money, the work have gave me the choice to pay me everything relating to this exam.

[Q1989]

@FrederickF

I would say you need to do more practice exam, and don’t just do it for the sake of knowing your current performance. You will get nothing if you don’t review it.

I’d say i messed up the reading part, i read the same material as you, all schewesser, and i didn’t even finish ethics from the CFAI. But i compensated it with 7mock exam before the actual exam. and i was also doing my MBA in finance which makes it a lot easier as the material complement each other.

Good Luck on your next attempt

Thank you for your advice.

[Q1989]

@HeavenBeyond

As a Level 1 Candidate, I can’t really comment on the exam itself. Well, not yet anyways. But, if you did approximately 3000 Q-Bank Questions, one has to wonder how well you actually grasped the concepts at hand? If for example you got a question right, could you explain why it was right? And if a question was wrong, did you learn and completely understand why you got it wrong?

And @FredrickF is probably right - a few more mock exams couldn’t hurt!

After reading your comments and previous comments. I understand that what I MUST DO more mocks and questions and reviewing ALL the answers. This is what I will put more time on it.

Thank you.

[Q1989]

@Justbeat

Do the assigned readings – read once–don’t bother taking notes or highlighting as it’s too much material. You will retain a lot, more that you realize, when you take the exam. Look at end of chapter problems and get answer books for texts and look them over. Then do the outline stuff like you have. You will probaly do much better.

Thanks, will do that.

[Q1989]

@dumbledore

I think your first attempt was not a serious attempt but the second was very thorough.Seeing your break up and band 9 you must be at higher end of 50-70 bracket.Please remember MPS has been generally estimated to be near 70% so you have to aim grater then 70%.From amount of effort you have put it seems you are not properly analyzing the questions you are doing wrong on a mock or qbank my advice would be

1. go through shwesar and make your own notes.keep adding points to them after you do a test and find something you have not covered or done wrong

2)do all grey box and EOC of CFAI books

3. Attempt as many mocks as you can and analyze the mistakes.Only this will create the additional value for you.I dont think time will be an issue at level 1

Thank you very much.

[Q1989]

@Banker99

Study harder. Be more focused, you can nail these exams that way, people go through these exams in 18 months, you can too if you write in December. Just tell yourself its not forever, get through it.

Here’s your strat, plan and simple: read cirriculum, do EOCs, refresh using Qbank, nail 6 mocks. Pass.

I will do all of what you said except reading the curriculm >

[Q1989]

@Hard_Dollars

During my preparation for both level 1 and level 2, I believe I learned most from understanding why I got mock questions wrong. Since there is a 33% unbiased chance of getting a right answer, you also need to make sure that your process of getting a right answer and the explanation for the correct answer provided by CFA are alligned.

will do that. Thank you

[Q1989]

@dwheaton

Go for it again! December will not set you back any further than if you had passed in June.

Read the CFAI text IN FULL this time. Then do as many practice questions as possible. You should already hav a firm grasp on the material so reading the CFAI text will be no issue.

No shortcuts, no problems.

Thank you…

[Q1989]

@Jimmy87

Focus on the heavy weight topics and make sure you know them back to front i.e. FRA, ethics and quant. If you get +70 in all three you stand a good chance of passing. Do as many eocs, qbank and cfa + schweser mocks as possible.

Thank you

[S2000magician]

@Palantir

You’re not studying hard enough.

Glad we cleared that up.

[Q1989]

@TE600

I do not think you should read the books all over again and you should definitely re-take this exam in December.

Although you don’t know what you missed on the actual exam, after taking the exam twice you should have a pretty good idea of what you know and don’t know. I would do the following:

• go through Qbank to brush up on the topics
• go through the EOC questions multiple times in the CFA books and hit the CFA sample questions
• re-take and review many mock exams (5-8)

I would read only topics that you don’t know, need a refresher on, or feel you didn’t get a good explanation of the answers from Schweser/CFA.

Other people have mentioned this but I cannot stress enough that you HAVE to go over every problem from the mocks right or wrong.

• If you got it wrong, you need to know why…go back and figure it out. Read the explanations
• And if you got it right, did you guess? If so, understand why the answer is correct
• If the explanation gives you 3 reasons why the answer was right, but you only knew 1 reason, you need to understand the other 2. Chances are you could get a question later on another mock or the actual exam, that you may need to know those 2 other reasons.

Be thorough…reading through the books, doing the questions and going through videos is a big part, but understanding why you are missing the questions is crucial. That is what is going to get you that passing score.

Good luck!

Thank you so much

[S2000magician]

@Banker99

Study harder. Be more focused . . . .

Not to be cynical, but isn’t this rather like telling someone who finished second in the 100-metre dash simply to run faster next time?

[Q1989]

@Palantir

You’re not studying hard enough. Read the Schweser books once? For L2, I read the CFAI text three times…on top of Q’s…

For me reading the CFAI text is impossible lol !! I will read Schweser notes again quickly and focus on the questions more.

Thank you.

[That_Candidate]

I know your pain. I’ve just failed L2 twice now after being sure I aced it the 2nd time.

You should go for it a 3rd time and to pass L1, you just need to do a lot of practice questions.

But if you don’t pass the 3rd time, maybe stop wasting your life on CFA because L1 is a walk in the park compared to L2.

[Q1989]

@That_Candidate

I know your pain. I’ve just failed L2 twice now after being sure I aced it the 2nd time.

You should go for it a 3rd time and to pass L1, you just need to do a lot of practice questions.

But if you don’t pass the 3rd time, maybe stop wasting your life on CFA because L1 is a walk in the park compared to L2.

This is what I am doing now. Practice questions and review all the answers.

Thank you and I hope you pass L2 next time and level three from the first try …

[itera]

@S2000magician

@Banker99

Study harder. Be more focused . . . .

Not to be cynical, but isn’t this rather like telling someone who finished second in the 100-metre dash simply to run faster next time?

lol

[Greenman72]

@S2000magician

@Banker99

Study harder. Be more focused . . . .

Not to be cynical, but isn’t this rather like telling someone who finished second in the 100-metre dash simply to run faster next time?

I like this.

You know, I’ll give somebody one crack at the exam. You know, it’s like that saying they have in Tennessee about how you can’t be fooled again.

But if somebody fails a second time, then they say, “I’ll just try harder and study better the third time”, I just want to say, “No, you won’t. If you could have, you’d have done it by now.”